CANADA LIFE ASSURANCE Co Purchases 37,489 Shares of PACCAR Inc (NASDAQ:PCAR)

CANADA LIFE ASSURANCE Co boosted its position in PACCAR Inc (NASDAQ:PCAR) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 462,558 shares of the company’s stock after acquiring an additional 37,489 shares during the period. CANADA LIFE ASSURANCE Co owned 0.09% of PACCAR worth $48,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. bought a new stake in PACCAR in the fourth quarter valued at about $1,984,000. Cullen Frost Bankers Inc. grew its position in shares of PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after buying an additional 6,494 shares during the period. LPL Financial LLC increased its stake in shares of PACCAR by 6.1% in the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock valued at $22,094,000 after acquiring an additional 12,143 shares during the last quarter. Insight Wealth Strategies LLC raised its position in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares during the period. Finally, Versant Capital Management Inc boosted its stake in PACCAR by 19.3% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock worth $138,000 after acquiring an additional 214 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Up 1.6 %

PACCAR stock opened at $88.17 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 1-year low of $85.10 and a 1-year high of $118.81. The company has a fifty day simple moving average of $99.09 and a 200 day simple moving average of $105.76. The company has a market cap of $46.28 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.50%. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insider Buying and Selling

In other news, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PCAR shares. UBS Group downgraded shares of PACCAR from a “neutral” rating to a “sell” rating and lowered their target price for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Citigroup lowered their price objective on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $108.59.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.